The global additives market is set to exceed $212.7 billion by 2028, driven by innovations in food and other sectors, with a shift towards natural additives.
The global additives market is expected to reach $212.7 billion by 2028. The changing lifestyle across the world is leading to adoption of food with preservatives. At the same time, the growing experiments in the food industry are boosting in the demand for food additives. Moreover, additives is a huge province and is utilized in various other sectors as well including plastic, construction, lubricants, fuel and agrochemicals. And along with food and beverages, every other industry is also leading to various innovations. All these aspects are setting the scene for elevating market growth.
Food additives are majorly known for improving the safety, freshness, taste, texture, or appearance of food. They are being used for centuries for food preservations. But over the time, various different food additives have been developed to meet the needs of both large scale as well as small scale food production.
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Additives are generally used for a various function like maintaining and enhancing the nutrient composition of the food. It is vital to make food palatable and extend the shelf and storage of foods. So, here are some of the most common food additives that are being used in the industry-
Flavouring agents
The flavouring agents aim to enhance aroma or flavour. There is a wide range of flavouring agents used in different food items including soft drinks, cereal, cake, yoghurt, and others. However, mostly natural flavouring agents are preferred over artificial flavourings such as fruit, nuts, and spice blends, and those extracted from vegetables. Furthermore, there are some flavourings that replicate natural flavours such as seafood, spice blends and wine.
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Enzyme preparations
Enzyme preparations is another variety of additives. These are basically proteins that occurs naturally to increase biochemical reactions by breaking down greater particles in smaller blocks. Furthermore, enzymes are extracted from plants, animal products, as well as micro-organisms including bacteria. And these are utilized as replacements for chemical-based technology. They are mostly used for baking, making fruit juices, and preparing cheese.
Other food additive-
There are other food additives that are used to augment different areas of food preparation such as colouring agents, sweetening additives, preservatives, and others.
The area also includes additives such as salts, sugar and corn syrup. Some industry such as Agro-Food By-products and Britannica are working to promote and prepare the healthy food additives.
The food additives industry is significantly switching towards natural additives. At the same time, the food and packaging industry is growing at a larger scale thereby boosting the industrial activities all over the globe. These factors are majorly contributing for the growth of the additive industry. Moreover, the further advancements in the additives for different fields, and better chemical stability and pH control are certain factors that would unlock numerous opportunities for the market players, in the approaching time.
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Based on end user, the food and beverage segment accounted for the highest market share in 2020, holding more than one-third of the global additives market, and is estimated to continue its leadership status during the forecast period. However, the packaging segment is expected to witness the fastest CAGR of 5.9% from 2021 to 2028.
Leading players of the global additives market analyzed in the research include BASF SE, Clariant AG, Dow Inc., Evonik Industries AG, Lanxess AG, Eastman Chemical Company, Milliken Chemical, PolyOne Corporation, Sanitized AG, and BioCote Limited.
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The article discusses the growth of the global additives market, expected to reach $212.7 billion by 2028, with insights into industry trends and major players.
Food additives are substances used to enhance the safety, freshness, taste, texture, or appearance of food, including flavouring agents and enzyme preparations.
Leading companies include BASF SE, Clariant AG, Dow Inc., Evonik Industries AG, and others.
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